Transcorp Annual General Meeting, Transcorp financial result, Transcorp Hotel

The Chief Executive Officer of Transcorp Hotels Plc, Mrs Owen Omogiafo, has doubled down on the company’s commitment to position Nigeria as the preferred destination for local and international tourists.

Omogiafo said Transcorp Hotels Plc is redefining the hospitality landscape in Africa through the company’s commitment to quality, global standard, and customer experience. She also added that the company will continue to leverage its unique value proposition to achive new heights.

“We are redefining the hospitality landscape in Africa and positioning our continent as a preferred destination for local and international tourists. Our numerous awards and recognition are proof of this.

“Transcorp Hotels will continue to leverage on its unique value proposition and proven strategies to exceed 2018 performance.”

Furthermore, Mrs Omojiafo stated that growth and efficiency, underpinned by a strong culture of service excellence and cost optimisation, will drive the company.

Meanwhile, to build on the company’s 2018 financial result, Omogiafo said it is important for Transcorp Hotels Plc to adopt a strong culture of excellent service and cost optimisation that will drive the company.

2018 result is first in the company’s history

While speaking at the company’s 5th Annual General Meeting in Abuja, Transcorp Hotels’ Chairman of Board, Emmanuel N. Nnorom, said the financial result of 2018 is an unprecedented achievement in the history of the company.

“Transcorp Hotels Plc has exceeded the bar with an impressive turnover of N17.4billion from N13.8 billion recorded in 2017, representing an improvement of 26 per cent.

“This is an unprecedented achievement in the history of the company. It is a further demonstration of our ability to adapt quickly to a changing business environment while keeping pace with global best standards in hospitality.”

Shareholders laud impressive result

Shareholders of Transcorp Hotels Plc are excited about the financial result announced by the management of the hospitality company. The shareholders who were praised by Nnorom, said the business model of Transcorp should be adopted, as the company is a blueprint of how privatisation should be in Nigeria.

Dividend: The shareholders unanimously endorsed a final dividend of N1.14 billion for the 2018 financial year after the company’s 26 per cent increase in turnover. The final dividend translated to 15kobo per ordinary share, which was a 20 per cent improvement over the 12kobo per ordinary share for 2017.

About Transcorp Hotels Plc

Transcorp Hotels Plc (“Company”) is the hospitality subsidiary of Transnational Corporation of Nigeria Plc. The Company owns and operates the multiple award-winning Transcorp Hilton Abuja, which provides luxury accommodation, world-class cuisines, conferencing and leisure facilities to business travelers and tourists from all over the world.

The company owns and operates hotels in Nigeria. Its hotels comprise Transcorp Hilton Hotel, a 5-star hotel with 670 rooms located in Abuja; and Transcorp Hotels with 146 rooms located in Calabar.

The company was formerly known as Transnational Hotels and Tourism Services Limited and changed its name to Transcorp Hotels Plc in 2014. The company was incorporated in 1994 and is based in Abuja, Nigeria.

Transcorp Hotels Plc traded N6.10 on the floor of the Nigerian Stock Exchange (NSE) as of Thursday, February 14, 2019.

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